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\begin{tabular}{lcccc} \hline
 & (1) & (2) & (3) & (4) \\
VARIABLES & UB & NB & UW & NW \\ \hline
 &  &  &  &  \\
Log GDP per capita & -0.044*** & -0.027*** & 0.017 & 0.010 \\
 & (0.008) & (0.007) & (0.019) & (0.010) \\
 &  &  &  &  \\
Observations & 598 & 598 & 598 & 598 \\
R-squared & 0.401 & 0.365 & 0.013 & 0.024 \\
 Sample Average & 0.051 & 0.028 & 0.241 & 0.057 \\ \hline
\multicolumn{5}{c}{ \textit{Table notes:} Standard errors clustered by country. *p$<$.05, **p$<$.01, ***p$<$.001.} \\
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